NathalieTadena

The company now expects full-year attributable gold and copper production to be at the low end of its previous guidance. It earlier forecast gold production of 5 million to 5.1 million ounces and copper production of 145 million to 165 million pounds.

Newmont, the world's second-biggest gold producer after Barrick Gold Corp. (ABX, ABX.T), had posted solid revenue growth in recent quarters, riding a decade-long surge in the price of the precious metal. However, revenue and gold prices both slipped in the latest period.

Newmont's bottom-line performance has been mixed, hurt by lower production and higher costs, as well as write-downs and other one-time charges. The third quarter included $48 million in restructuring and other charges.

The company, which serves as the project manager for the troubled $5 billion Minas Conga copper-and-gold project in northern Peru, is up against antimining activists who are demanding the government shut down the project, saying it threatens water supplies. The project is currently in a state of semi-suspension, as the company builds reservoirs to improve water supplies before moving to any mining.

Newmont reported a third-quarter profit of $367 million, or 74 cents a share, down from $493 million, or 98 cents a share, a year earlier. Excluding impairment and other items, per-share earnings fell to 85 cents from $1.26.

Revenue fell 9.6% to $2.48 billion.

Analysts polled by Thomson Reuters had expected earnings of 91 cents a share and revenue of $2.52 billion.

Attributable gold production fell 5%, while attributable copper output slipped 38%. The average realized price for gold fell 2% to $1,659 an ounce. The average realized price for copper increased 21% to $3.55 a pound.

Costs and expenses were up 12%.

Shares fell 34 cents to $52.88 after hours. The stock is up 20% over the past three months.

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